Spring is here, bringing longer days and warmer weather! 
Whilst spring often gives us days of fluctuating weather and uncertainty, this also correlates with our current market and the rollercoaster we seem to continue to ride.
We welcome you to our spring edition of the Pinnacle Brief!
What’s happened in recent market activity…
In brief, global markets endured another volatile month with a severe pullback early August, though it didn’t take long to stabilise and a number of global financial markets are back to near record highs. Predications of a US recession seems to be premature—these periods of equity market volatility are inevitable and serve as an important reminder to avoid being reactive to market bumps.
Locally, company reporting season dominated news and also drove the majority of stock performance.
Although evidence is mounting that the Australian economy is slowing, inflation remains sticky and compares poorly with peers. The RBA kept interest rates steady at 4.35% in August and it’s unlikely interest rates will be cut while inflation is on the current trajectory. Cost-of-living pressures continue for consumers, limiting sales growth, while business costs such as labour and energy are increasing, squeezing margins.
What’s news at Pinnacle…
We do have a couple of important staff transitions at Pinnacle. We are pleased to welcome Belinda Bialas as our new ‘Client Relationship Manager’ and my new right hand in assisting myself and working with clients. With over 20 years of experience in the financial sector, Belinda brings a wealth of knowledge and expertise to Pinnacle. Her rural upbringing, personable nature, coupled with her passion for reading and continuous learning, positions her well for a successful and seamless integration into the Pinnacle family.
On another note, we regret that we are saying ‘goodbye’ to Danielle Long at the end of September. After 9 years with Pinnacle and recently finishing her degree, Danielle will be progressing her career with a larger Advice firm. She has been a valuable employee and will be missed—we wish her all the best as she embarks on her next adventure.
As we move into the next quarter, we will continue to observe the RBA’s decisions around interest rates and inflationary pressures and for entertainment value, the ‘Trump & Harris Show’ as the US Election campaign heats up for the Presidential race, pending the looming election date of 5 November. The final result and what will the implications be for Australia and globally… we will watch and see!
Chris Launer—Principal
